This report explores the development of the global metaverse industry and its integration into real-world business, including its uptake/adoption in Saudi Arabia and the rise of the Saudi metaverse market. The report also discusses how Saudi companies can overcome new obstacles and use the digital space to expand their market reach and operations.

We explore:

• Developing phases in metaverse development including virtual reality, augmented reality, blockchain technology, NFT & Web3.
• The challenges in the metaverse becoming a reality and transforming those barriers into enablers.
• The integration of the metaverse into real-world businesses.
• Key trends in the metaverse industry in Saudi Arabia including the sectors that can benefit most, as well as the metaverse integration into Saudi firms and the challenges & enablers in Saudi Arabia.

The report also examines global benchmarks in the metaverse industry in the US, China, the UAE, Saudi Arabia, Spain, Barbados, South Korea and Japan in terms of their industry size, their national strategies for the metaverse and industries or areas where the metaverse is used/adopted.

Strategic Gears experts also conducted interviews with two metaverse players in Saudi Arabia on where the growth opportunities are and the challenges to overcome them in the global and Saudi context.

The report concludes with Strategic Gears expert recommendations on maximising metaverse adoption in terms of overall metaverse development, transforming challenges into enablers, Saudi Arabia metaverse growth, as well as recommendations based on lessons learned from the country benchmarks and interviews.